Without incorporation, entrepreneurs may find that they’re unable to raise capital from investors because their company doesn’t appear credible. Individuals running a start-up that isn’t incorporated may also face personal liability when entering agreements.

The first step is identifying who will serve as directors of the company and what share classes are required. Consulting with other business advisors such as tax advisors or accountants is also advised. The final steps before incorporating are registering a corporate name and drafting the articles of incorporation or corporation bylaws that will govern the start-up.

Once all the required information is gathered, incorporations can be processed in 3 to 5 business days. Numbered companies can be incorporated within 48 business hours.

Before beginning the incorporation process, you’ll need to gather contact information for all directors and shareholders, including legal name, date of birth, occupation, citizenship status, tax residency, mailing address, email address, phone number, and copies of government-issued photo ID.